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Leases (Tables)
12 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Summary of Lease Cost

The components of the Company's lease costs, weighted average lease terms and discount rates are presented in the tables below:

 

 

 

Fiscal Years Ended

 

 

 

March 31, 2025

 

 

March 31, 2024

 

 

March 31, 2023

 

 

 

(In thousands)

 

Lease cost:

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

99,067

 

 

$

105,365

 

 

$

87,627

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

Depreciation of assets obtained under finance leases

 

 

14,948

 

 

 

11,824

 

 

 

11,947

 

Interest on lease liabilities

 

 

6,514

 

 

 

2,018

 

 

 

2,441

 

Short-term lease cost

 

 

21,559

 

 

 

13,990

 

 

 

14,410

 

Variable lease cost

 

 

27,067

 

 

 

13,214

 

 

 

15,261

 

Net lease cost

 

$

169,155

 

 

$

146,411

 

 

$

131,686

 

Summary of Operating and Finance Lease Costs Weighted Average Lease Terms and Discount Rates

 

 

As of

 

 

As of

 

 

As of

 

 

 

March 31, 2025

 

 

March 31, 2024

 

 

March 31, 2023

 

Lease term and discount rate:

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term (in years):

 

 

 

 

 

 

 

 

 

Operating leases

 

 

8.5

 

 

 

7.3

 

 

 

6.3

 

Finance leases

 

13.5

 

 

2.4

 

 

 

3.4

 

 

 

 

 

 

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

 

 

 

 

 

Operating leases

 

 

6.2

%

 

 

6.2

%

 

 

5.7

%

Finance leases

 

 

10.5

%

 

 

6.3

%

 

 

6.3

%

Summary of Components of the Consolidated Statements of Cash Flow for Operating and Finance Leases

The following table details components of the consolidated statements of cash flows for operating and finance leases:

 

 

 

Fiscal Years Ended

 

 

 

March 31, 2025

 

 

March 31, 2024

 

 

March 31, 2023

 

 

 

(In thousands)

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

92,600

 

 

$

93,350

 

 

$

69,595

 

Operating cash flows from finance leases

 

 

5,259

 

 

 

2,074

 

 

 

2,449

 

Financing cash flows from finance leases

 

 

15,176

 

 

 

11,941

 

 

 

11,572

 

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease liabilities:

 

 

 

 

 

 

 

 

 

Operating leases

 

$

94,350

 

 

$

29,035

 

 

$

9,817

 

Finance leases

 

 

145,625

 

 

 

1,946

 

 

 

2,232

 

Summary of Maturities of Lease Liabilities

The following table presents maturities of the Company’s lease liabilities as of March 31, 2025:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

 

(In thousands)

 

Expected for fiscal year 2026

 

$

86,165

 

 

$

31,684

 

Expected for fiscal year 2027

 

 

82,683

 

 

 

22,631

 

Expected for fiscal year 2028

 

 

76,541

 

 

 

19,630

 

Expected for fiscal year 2029

 

 

73,723

 

 

 

19,614

 

Expected for fiscal year 2030

 

 

67,864

 

 

 

19,625

 

Thereafter

 

 

239,815

 

 

 

182,340

 

Total future lease payments required

 

 

626,791

 

 

 

295,524

 

Less: interest

 

 

147,348

 

 

 

137,051

 

Total

 

$

479,443

 

 

$

158,473